[impendia]

Yup! That's correct, here's a demonstration:

https://www.youtube.com/watch?v=rEoYwyHddLc

Explaining why it works is an exercise in number theory. For example, card 1 stays in place; card 2 goes to position 3, then 5, then 9, then 17, ... In short, the reason why it works is that 2^8 - 1 is divisible by 52 - 1.

[bhrgunatha]

What amazing control in that video. From the very start, spreading the cards so evenly that every single card can be shown to be in order, then even more the precision needed to riffle the cards together perfectly eight times.

[wool_gather]

It you want to see more amazing, Ricky Jay could do this while keeping up a stream of amusing patter and making his hand motions seem almost casual. E.g. https://www.youtube.com/watch?v=eonlrksCsw8

[bena]

Richard Turner does it with patter, casual motions, and while being blind.

https://en.wikipedia.org/wiki/Richard_Turner_(magician)

[eindiran]

He had some interesting appearances on Penn and Teller's show 'Fool Us': https://www.youtube.com/watch?v=TwFIJyWKs1k

[glaberficken]

How can someone with that level of precision tolerate the wrinkled table cloth!